Villas in Egypt
Villas in Egypt – How to Buy?
When looking at Villas in Egypt, it is important that you start by doing your research to ensure you buy the correct Villa for you. A quick internet search will pull up 18,000,000 results for the search term “villas in egypt”, so where should you start off?
Well you need to consider several things when looking for Villas in Egypt, including:
- Additional Costs
- The Agent
There are several locations where you could be looking to buy a villa in Egypt, whether it be Sahl Hasheesh, El Gouna, Hurghada, Luxor etc… so you need to know where you will be focusing your property search in order to give yourself the best chance of finding the villa of your dreams. If you are seriously considering buying a Villa in Egypt then I would presume that you have visited the country, ideally several times, been to several different places in Egypt and your head and heart have settled on a location where you really wish to be investing your money. Afterall, buying abroad is a very big decision and purchasing a villa in egypt should not be rushed. Take your time, do your research… you will reap the rewards with your dream villa in the end.
So yes, the first thing you need to look at is the Location. As the property saying goes, its all about location, location, location. So if nothing else, it is a great excuse to go and top up on that sun tan just a little bit more before you make the plunge into buying the villa.
So now you should know what area in Egypt you a buying a villa. Now you need to look at your requirements. Do you have a large family and are looking for a 4 or 5 bedroom Villa? Are you buying a villa in Egypt as an investment and want the best rental returns – then you need to know what rents out best – again, do your research. Will you need your villa to have parking spaces? Are you looking for a detached or semi detached? Do you need a private pool or garden. Are you looking for a Villa that comes with full rental and property management or not?
The requirements stage is where you really start to form a picture in your mind about what your ideal villa in egypt will consist of. Make a list of things that the villa – Must Have – Ideally have – Can’t haves. So for example your list could look something like this:
Must Have Ideally Can’t Have/be
3 bedrooms 4 bedrooms Off Plan
Pool Parking On a large complex
En-Suite Master bedroom Beach Front
By now you should know where you want to buy your villa and what you are hoping to buy… the next thing to look at is just how much you are looking at spending. There is a common misconception that properties in Egypt can be picked up at next to nothing, and although it is true you can get some excellent properties that are value for money, you need to be realistic. 1. With what you can afford to spend AND 2. What you should be spending. If you are searching the internet and find a Villa for sale 4bedrooms, private pool, en-suite bathroom, on a complex, beachfront that can be picked up for the amazing price of just £50,000 then alarm bells should be ringing in your head and all the horror stories you have heard about buying abroad should hopefully stop you from making the same mistakes. Do your research, take your time… if it sounds too good to be true, then chances are, it is.
Now on the other hand, if that same villa is being offered at lets say £400,000 then you are probably on the right track, but still do your research. Whats’s that I hear you say? “£400,000 for a villa in Egypt? But I thought Egypt was cheap!!?” – Well imagine buying a Villa in Spain 4bedrooms, private pool, en-suite bathroom, on a complex, beachfront you are looking at well over £2,000,000 – So now £400,000 is sounding more like a bargain and certainly value for money when you consider it is a truely year round season and tourism levels are increasing and the country as a whole set to see major improvements and capital growth on the villa, where you could argue Spain has seen all of this already and any potential returns of capital increase will be minimul if any and the market is a crowded.
So if you do have a budget of £50,000 and are looking for this dream home beach front villa then it may be worth looking elsewhere, or maybe focus on getting a beach front apartment in Egypt instead of a villa? There is real value to be had when buying property in Egypt, but make sure that what you are buying is real value and not a nightmare waiting to happen. Do your research, beyond just google.
4. Additional Costs
As with every property purchase, when buying your villa in Egypt you need to consider additional costs and include these when buying considering your budget, here is a quick list of additional costs you might face:
- Solicitor fees – You are going to want to use an independant solicitor when buyinh your villa in Egypt. Costs will vary depending on who you choose, but ideally you need to be looking at a repuatable law firm, that specialises in Egyptian Property Law and if possible comes under your own countries law society. No doubt you will be offered the services of a local Egyptian solcitor who may charge less than half of other quotes, but when buying a property in Egypt, money spent on the best solicitor really is worth paying.
- Maintence Fees – These can be charged monthly or yearly and again, depending on where you buy your Villa, the charges will vary considerably. Make sure you know what you are paying for, what comes under the agreement, check with owners on the complex or in Villas by the same developers and check if they are happy with the service. You don’t want something that will not maintained if you are paying for it.
- Registration Fee – To have the Villa placed in your own name you are looking at the costs involved being a percentage of the property price (around 2-3%) and also legal fees involed. It is worth consulting with your solicitor with regards to the full process so you don’t go into your purchase uninformed.
- Furnishing your Egyptian property – If your villa comes furnished then this might not be a consideration, unless of course the style of the furniture is not to taste. Depending on the size of the Villa and the quality and amount of furniture you are looking for, the price can dramatically change. Have a look around at different furniture options to give you an idea of what you will be paying. Rivermead Global have our own furniture side of our business and if you do wish to furnish a Villa in Egypt with us, then let us know you read this blog and Quote VILLAPACKTEN to receive a 10% on a full furniture package.
5. The Agent
The final thing to consider is the agent that you choose to buy your Villa through…. Now before you roll your eyes and the words “here comes the sales pitch” even enter your mind then let me assure you this is not what is going to happen. Yes, Rivermead Global are an Agent. Yes, we do sell Villas in Egypt. Yes, we do believe we are very good at what we do, the best in fact. BUT… there are a lot of very repuatable agents out there that would be able to assist you in your search for a Villa and as a company, we specialise in the areas of Hurghada, Sahl Hasheesh and El Gouna when it comes to property in Egypt, so if you none of these locations came are on your radar after point 1. “Location” – Then we are not the agent for you, and that is fine. You still need to make sure that you choose the right agent however.
To do this, firstly, it is important to listen in great detail to the agent, read the information they send you about the properties and themselves, and here is the vital part… BELIEVE NONE OF IT!! Thats right, nothing at all. All agents, good or bad, will want to assist you in your purchase and they will of course either tell you the whole truth about themselves, their services and the property in question (Good Agent) or they can tell you a vague representation of the truth (bad agent). So listen to everything they say, but then do your own research. Join property forums, read testimonials, contact previosu buyers (ask the agent, they should have buyers who are happy to give real reviews), do your research both on and offline.
Again, finding the correct agent to work with is vital in the process, you want somebody independant that will be working with your best interests at heart and not one that just considers a quick sale and commission as priortity. Take your time with this, as they will be a real asset to your when searching for a property and will be able to point you in the right direction with regards, properties, solicitor, currency companies, rental companies, viewing trips, furniture… basically everything you need to know regarding your purchase. Provided the best service, pre, during and of course after the sale.
Thank you for taking the time to read this blog post, if you have any questions then please leave a comment or drop us an email, just visit the contact us page.